$3$

The income statement, balance sheets, and additional information for Video Phones, Incorporased, are provided.

$\backslash$table$[[],[$Incobe Statement For the Year Ended Qecenber $31,2024],[$Net sales,,$$2,576,68$d$],[$Expenses:$],[$Cost of arods sold,$$1,550,200,],[$Operating expenses,$778,{?}^a,],[$Depreciation expense,$19,406,],[$Less on sale of land,$7,200,],[$Interest expense,$11,400,],[$tocome tax expense,$43,208,],[$Total expenses,,$2,445,264],[$Het income,,$1170,829]]$

$\backslash$table$[[$VIDEO PNONES, INCBPPONATED Balance steets December $31],[$Assets$],[],[,,],[$Cash$,$$$152,320,$$$77,560],[$Accounts receivable,$72,260,52,6$ et$],[$Inventory$,105,400,127,009],[$Prepaid rent,$\%,680,4,449],[$Long$-$ters asiets:,,$],[$Investinents$,97,4$e$0,$e$],[$Land$,202,909,224,270],[$tquipeent$,254,309,202,23$e$],[$Accumulated depreciation,$(59,460),(49,408)$